Ponzi scheme and Bitcoin - page 6. | Bitcointalksearch.org

arwin100

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Quote from: Lee01 on December 26, 2019, 12:09:39 AM

Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.

It certainly affect depend on how many volumes got by the Ponzi creator and if they accumulate large volume it can give a huge impact to the price of btc since those huge dump could create a massive upset to the price and to the emotion of the holders that's why we can see those panic sellers and market downfall.

But we shouldn't get panic since everything will be regain back since there's always a price bounce when bitcoin is cheap remember there are many whales who want to accumulate cheap bitcoins and they will pump it up for their gains.

Dart18

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It is a scam so it won't be successful right?
I mean they will really collapse. That is their goal. To just vanish away out of thin air.

Well, I have seen a lot of scam projects and yet it doesn't even move bitcoin to a greater amount in value although the name is being dragged and those who cannot swallow it will just withdrew.
That may be the reason for the dumps that had been happening with bitcoin. But still, not in a large scale.

figmentofmyass

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Quote from: Lee01 on December 26, 2019, 12:09:39 AM

Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.

technically, everything affects supply and demand (and thus price)---even little fish like you and me. it's just a matter of how much value we're talking. 1 BTC sold on an exchange will hardly affect price. but 25k BTC or more? that could definitely have an effect in such an illiquid market.

the flip side is the plus token scheme pumped/propped up the market too. people bought billions of dollars worth of BTC and ETH to deposit into it. that must have had an effect on spot prices.

Wexnident

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Most have already said it. Ponzi schemes may impact the market in the short run, but the market knows that this impact is an irregularity. An alien factor. The market then proceeds to regulate or stabilize the market slowly, but surely. Ponzi schemes may scam thousands of users and may obtain millions of dollars worth of coins, but in the end, they'd still have to return it to the market, and they don't have an unlimited supply of it. A long term effect only happens if the ponzi scam actually lasts for lets say 10 years or so.

Soots

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Quote from: bitvalak on December 26, 2019, 05:21:32 AM

It certainly has an effect, but whether it is significant or not depends on how long the project lasts.
Ponzi always uses the situation when bitcoin is dropping. After that, the Ponzi project will be destroyed by itself.

Most cases ponzi will end, because it has no definite product enlisted to it. This was all the currency who paid by itself and the new registered investors will pay for those old one. Particular members has no assurance with this scheme but eventually be broken down, when sudden business problem will occur badly.

bitvalak

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It certainly has an effect, but whether it is significant or not depends on how long the project lasts.
Ponzi always uses the situation when bitcoin is dropping. After that, the Ponzi project will be destroyed by itself.

mk4

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Of course they have an effect, regardless how big or small the bitcoin-related ponzi scheme is. But of course, the size of the effect would also depend on the size of the ponzi scheme. Most of the time the effect is simply just unnoticeable. And yes, even though the scammers would sell the bitcoins outside centralized exchanges to prevent tying up their name to the coins, it still has an indirect effect on prices. Because if a certain ponzi scheme didn't exist(regardless of size), there would technically be less selling pressure on the markets.

DreamStage

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Of course, if the money involved gets moved as transactioned by selling immediatly the gains achieved from the pronzi scheme.
Price would go down eventually as buy price would become lower and lower due to the demand becoming lesser as there would be more coins on the market.

That's because when you invest into such pronzi you are basically getting the gains from other people that invested in your place.
It creates a pronzi in such a way as basically when you buy bitcoin on the market. You are influenting market's price.

Everything is linked at same way since money is being converted from virtual to fiat.

eaLiTy

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Quote from: pooya87 on December 26, 2019, 12:44:33 AM

not to mention that these scammers unload their stolen coins away from exchanges to avoid being tracked.

That is the truth when they are able to scam billions of dollars worth of BTCitcoin they will be looking to sell over the counter to avoid unwanted attraction by sending those coins to the exchanges but i am sure the coins will be tracked by chainalysis and other companies who are monitoring these movements and since these coins will not reach the public exchanges i am not expecting a huge price drop when they start selling the coins as millions of coins are trading outside the exchange on a daily basis.

bitcampaign

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not really, because not all use bitcoin, for example they use their own tokens or altcoins, if all exchanges don't add their tokens and altcoins on exchanges with BTC pairs, I think it will be safe, if you see some people maybe using bitcoin but Dumper will not happen, because the BTC they have may not be many of the big holders that have existed since 2010, so in my opinion there is not much influence with the price of bitcoin if there is a closure of the Ponzi scheme site

avikz

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Quote from: Lee01 on December 26, 2019, 12:09:39 AM

Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.

Ponzi scams with the volume of plustoken or onecoin, are capable enough to temporarily impact the price of bitcoin or any other crypto assets for real!

Plustoken has siphoned out around 2 billion dollars woth crypto assets and onecoin is estimated at 4 billion dollars! With this kind of volume in hand, if they start selling their assets in the open market, it will certainly flood the market where the demand remains constant! So the price will certainly come down for a specific time. So definitely a temporary effect will be seen!

Having said that, such effects are very unlikely to last longer!

pooya87

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scams always collapse and so far we have had many scams some big and some small and they have all collapsed and none of them have ever had any effects on bitcoin price other than some small newbie panics and sells. because even though some of these scams may be big but they are not big enough in comparison to the bitcoin market size. not to mention that these scammers unload their stolen coins away from exchanges to avoid being tracked.

Lee01

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Would the collapse of a Ponzi scheme effect the price of Bitcoin?
Though a hypothesis that the collapse of the Chinese Plustoken, a classic Ponzi scheme similar to bitconnect or countless others affected the price of Bitcoin, this seem to be accceptible although it's unlikely to be the major factor but distribution of stolen funds correlate very well with market downturns.

Topic: Ponzi scheme and Bitcoin - page 6. (Read 1467 times)